Frontier Says It Found Better DIP Deal

Law360 (August 5, 2008, 12:00 AM EDT) -- Abandoning an earlier offer from private investment firm Perseus LLC, Frontier Airlines Holdings Inc. said Monday it was moving forward with an alternate plan for $75 million in debtor-in-possession financing that may help the struggling airline emerge from bankruptcy.

Monday's agreement with Republic Airways Holdings Inc., AQR Capital and affiliates of Credit Suisse Securities comes just a week after the airline said it had secured a commitment from private investment firm Perseus for $75 million in DIP financing.

"After a careful examination of this offer against...
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